Société Auxiliaire de Gestion (SAGES) is a Non-Managing General Partner of CGEM and consequently has unlimited liability for the Company’s debts. General Partners can be relieved of this liability only by decision of the shareholders in Extraordinary Meeting. The General Partners may be shareholders but may not take part in any votes to elect Supervisory Board members or appoint Statutory Auditors.


As SAGES is not a Manager, it is not authorized to play any part in the Company’s management. However, if the position of CGEM’s Manager were to fall vacant, SAGES would take on the Manager’s role for an interim period and would be responsible for calling an Extraordinary Shareholders Meeting to elect a new Manager.


As well as assuming liability for CGEM’s debts, in its capacity as General Partner, SAGES is responsible for recommending candidates for election as Manager at the Shareholders Meetings, the re-election of Managers or their removal from office, after obtaining the agreement of the Supervisory Board.

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